The US private sector saw its activity growth slow in February, according to S&P Global, whose composite PMI index came in at 51.4 in flash estimation, after reaching 52 the previous month, its highest level since July 2023.

For the record, it is the 50 threshold that separates expansion and contraction in a sector's activity for PMI indices: the higher the index is above this threshold, the faster the pace of expansion.

'Cost pressures eased further, but growth momentum in the services sector weakened', explains S&P Global, while manufacturing output returned to growth.

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